The global market for cocoa and chocolate is primarily propelled by the increasing popularity of chocolate confectionery. Realizing the strong demand for cocoa ingredients substitutes due to the increasing price of cocoa ingredients, major market players such as Olam International, Wilmar International, Cargill Inc., Danisco, and others are offering a wide range of cocoa butter equivalent blends to meet the market requirements, which is also confining to the growth of the cocoa ingredients market. The UK compound chocolate market is growing at a CAGR of 3.32% during the forecast period (2019-2024). Few of the major players operating in this market include Mars, Inc., Mondelēz International, Inc., The Hershey Company, Nestlé, and the Ferrero Group. Chocolates are also associated with a token of appreciation, love, and happiness, which are given as gifts during the festive season, thereby propelling the product demand. Explore purchase options. Increased consumer preference towards knowing the origin of all the ingredients used in chocolates is a major market driver. Rising awareness regarding dark chocolate as a healthier confectionery product, which consists of antioxidants that protect the skin from harmful ultraviolet rays, is expected to promote the market growth over the next few years. This report forecasts revenue growth at the global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. New product developments in different sectors of the food industry are also facilitating the growth in the cocoa & chocolate market. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”, “Please pass on our sincere thanks to the whole team at Fortune Business Insights. This makes it exceptionally popular among women and those suffering from calcium deficiency. Looking forward to work together in the future”, “It has been a delightful experience working with you guys. The data offered to us was exactly what we were looking for. This website is secure and your personal details are safe. According to the WHO data published in 2017, coronary heart disease deaths in Mexico reached 94,712 or 17.46% of the total deaths. Thank you!”, “I recommend Fortune Business Insights for their honesty and flexibility. For instance, in February 2020, the company introduced completely dairy-free chocolate in its plant crafts range. We are in compliance with GDPR & CCPR norms. Rising awareness regarding dark chocolate as a healthier confectionery product, which consists of antioxidants that protect the skin from harmful ultraviolet rays, is expected to promote the market growth over the next few years. There has been a significant rise in the origin share of global grindings, which has given a major boost to the overall consumption of cocoa-based ingredients. Cocoa Powder Experiences Widening Application Spectrum, Cocoa butter is Increasingly Employed for Premiumised Offerings Cocoa powder is expected to witness the widening application spectrum in the forecast period (2019-2025) with the demand coming from the compound chocolate sector. Furthermore, the calcium content in the carob is almost thrice the amount found in cocoa. Growing at a CAGR of 4.4%, the market will exhibit steady growth in the forecast period (2020-2027). What was the value of the market in North America in 2019? The global foodservice industry is aiding in the growth of gourmet & specialties cocoa-based offerings and the foodservice giants are demanding greater customization, value-added, and multifunctional solutions, which are further projected to flourish the market. It also releases endorphins in the body, which instantly elevates mood. The demand for nutraceuticals & functional foods is expected to witness an upward surge owing to consumers opting for immunity boosting supplements during the COVID-19 pandemic. In the initial stages of lockdown, panic buying of food supplies by consumers contributed to the rapid growth in the sales of mainstream chocolates in retail channels as a source of indulgence and comfort. All interactions are confidential. The robust trend of healthy snacking is accompanied by growing demand for premiumised and indulgent offerings with chocolate flavor as most sought after one. Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. Online sales channel has witnessed significant growth in the last few years due to increasing internet penetration in various countries. As per the National Confectioners Association, 150 million Santa-shaped chocolates were manufactured in North America during Christmas. Growing dependence of generation X, millennials, and generation Z parents on internet and e-commerce is a major factor expected to drive sales of chocolate through the online channel in coming years. Milk chocolate is the dominant variant among various traditional chocolates as it enjoys the first-mover advantage in the market. This is a very good piece of work and will be very helpful to us going forward. Filled chocolates are gaining popularity as indulgent gifts on festive occasions. Traditional chocolate accounted for the largest share of 99.4% in 2019. Avail customized purchase options to meet your exact research needs: "The quality of research they have done for us has been excellent...". Increasing Demand for Chocolate Substitutes & Equivalents to Impede Growth. We stand by our report quality. Which is the leading segment in the market? Premium private label growth makes price a key factor for manufacturers .

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